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Cryptocurrency End of Day Recap

Jun 05, 2018

  • Vinay Mendonca, Managing Director and Global Head of Product & Propositions at HSBC, warned that Distributed Ledger Technology without standards could be useless. He feels that this may be a challenge to get big banks to share their data and standardize this product
  • The Belgian government released a website warning investors of potential crypto scams. The website describes methods on how to tell if the token sale is a scam, and to check if the company has a license to operate in the Belgian financial markets
  • New York Assemblyman Ron Kim has proposed a bill that would launch ten programs creating New York community cryptocurrencies. These currencies are intended to promote spending locally, in an attempt to give a boost to the local economy
  • Streamlabs, a video streaming application, is allowing users to accept tips in cryptocurrencies. The app has partnered with Coinbase, and users can link their Coinbase account to their Streamlabs account. Users will be able to tip with the four cryptocurrencies that can be traded on the Coinbase platform: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
  • Bitfinex, the Hong Kong cryptocurrency exchange was targeted earlier today by a DDoS, or denial of service attack around 9:50 this morning. Trading was resumed around 11 AM. Bitfinex reported that no user accounts are at risk, and that the attack only impacted trading operations